The Pennsylvania Public School Employees’ Retirement System (PSERS) has committed $150 million to Strategic Partners’ sixth global secondaries fund.
Fund VI is the first fund raised by Strategic Partners since it was bought by Blackstone last August; it held its first close last year on $688 million, and is is targeting $3.5 billion with a $4 billion hard-cap, according to PEI Research and Analytics.
Blackstone affiliate Park Hill Group was the placement agent for the commitment, according to PSERS documents.
The $150 million commitment to Strategic Partners Fund VI will bring overall PSERS commitments across Strategic Partners funds to $1.225 billion.
Last week Secondaries Investor reported that Strategic Partners bought Bank of America Merrill Lynch’s LP position in Ares European Real Estate Fund III.